Thursday, 9 July 2015

Closing Brief

US equities closed moderately higher, sp +4pts @ 2051 (intra high 2074) . The two leaders - Trans/R2K, settled higher by 0.6% and 0.4% respectively. Near term outlook is for renewed upside, but the market will need to see some sort of Greek deal provisionally agreed by early next week.. otherwise... new lows will occur.



*continued minor weakness in the closing hour. Price structure is still arguably a bull flag, although I realise some would be dismissive of that view, not least after the bulk of the morning gains dissolved across the day.

The second consecutive daily close under the 200dma.

A tiresome day.... with a US market that seems hostage to the Greeks and the Chinese. For now.. I think I'll leave it at that.

more later... on the VIX